$5,878 Closing Credit*
$495,000
2,458 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Keller Williams Coastal
Is 02816, RI a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, 02816 has remained a Seller's Market.
Key Takeaway
02816 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in 02816, RI
How much do homes in 02816, RI cost?
Median Sold Price
$405,000
$236/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$23,000(+6.0%)
Key Takeaway
Homes in 02816 have sold for 6% more than they did a year ago.
Summary: The median home sold price in 02816 was $405,000 in December 2024, up 6% from last year, and the median price per square foot was $236.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $235K | $265K | +12.8% |
| 2 Bedrooms | $232K | $225.5K | -2.8% |
| 3 Bedrooms | $401K | $429.4K | +7.1% |
| 4 Bedrooms | $575K | $577.5K | 0.4% |
| 5+ Bedrooms | $420K | $475K | +13.1% |
Summary: 02816 housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.8%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 13.1%.
Housing Supply in 02816, RI
How many homes are available in 02816, RI?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 126 | 109 | -13.5% |
Summary: The 02816 real estate market had 109 homes for sale in December 2024, a 13.5% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 48 | 39 | -18.8% |
| 3 Bedrooms | 52 | 47 | -9.6% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The 02816 housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 18.8%, 3 bedroom homes decreased by 9.6%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 27 | 48 | +77.8% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in 02816, you may be able to get a good deal. 41.7% of homes here sold below asking price last month.
Summary: A total of 48 homes were sold or pending in 02816 in December 2024, up by 77.8% month-over-month. Of the 48 sold homes, 42% were sold under asking, 23% were sold at asking, and 35% were sold over asking.
Days on Market for 02816, RI
How long does it take to sell a home in 02816, RI?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 34 Days | 39 Days | +12.9% |
Summary: Homes in 02816 had an average of 39 days on market in Dec 2024, up by 12.9% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
18 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 02816 are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 48 homes were sold in 02816; 50% of homes were sold within 30 days, 38% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
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